SBA Communications Corporation $SBAC Shares Acquired by Avanza Fonder AB

Avanza Fonder AB lifted its position in shares of SBA Communications Corporation (NASDAQ:SBAC) by 38.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 12,169 shares of the technology company’s stock after purchasing an additional 3,385 shares during the quarter. Avanza Fonder AB’s holdings in SBA Communications were worth $2,354,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new position in SBA Communications during the second quarter valued at approximately $351,084,000. Dodge & Cox increased its position in shares of SBA Communications by 12.3% in the third quarter. Dodge & Cox now owns 9,667,297 shares of the technology company’s stock worth $1,869,172,000 after acquiring an additional 1,058,803 shares in the last quarter. Daiwa Securities Group Inc. raised its stake in shares of SBA Communications by 1,328.4% in the 2nd quarter. Daiwa Securities Group Inc. now owns 522,215 shares of the technology company’s stock valued at $122,637,000 after acquiring an additional 485,656 shares during the period. Nordea Investment Management AB raised its stake in shares of SBA Communications by 65.0% in the 3rd quarter. Nordea Investment Management AB now owns 1,182,076 shares of the technology company’s stock valued at $229,145,000 after acquiring an additional 465,558 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in shares of SBA Communications by 2.3% during the 3rd quarter. Vanguard Group Inc. now owns 18,163,536 shares of the technology company’s stock valued at $3,511,920,000 after acquiring an additional 403,285 shares in the last quarter. Institutional investors and hedge funds own 97.35% of the company’s stock.

SBA Communications Stock Down 3.0%

Shares of SBA Communications stock opened at $166.76 on Wednesday. The firm has a market cap of $17.64 billion, a P/E ratio of 17.50, a P/E/G ratio of 1.70 and a beta of 0.86. SBA Communications Corporation has a fifty-two week low of $166.58 and a fifty-two week high of $245.16. The business has a 50-day moving average price of $189.97 and a 200 day moving average price of $192.06.

SBA Communications (NASDAQ:SBAC) last released its earnings results on Thursday, February 26th. The technology company reported $3.47 EPS for the quarter, topping analysts’ consensus estimates of $3.25 by $0.22. The company had revenue of $719.58 million for the quarter, compared to the consensus estimate of $725.80 million. SBA Communications had a negative return on equity of 20.81% and a net margin of 36.40%.SBA Communications’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter last year, the business posted $3.47 EPS. As a group, equities research analysts anticipate that SBA Communications Corporation will post 12.57 earnings per share for the current year.

SBA Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 3.0%. This is a boost from SBA Communications’s previous quarterly dividend of $1.11. The ex-dividend date is Friday, March 13th. SBA Communications’s dividend payout ratio (DPR) is 52.47%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on SBAC. Scotiabank decreased their price target on shares of SBA Communications from $233.00 to $223.00 and set a “sector perform” rating for the company in a research report on Monday, March 2nd. Morgan Stanley reduced their price objective on SBA Communications from $225.00 to $215.00 and set an “equal weight” rating on the stock in a research note on Monday, March 2nd. UBS Group decreased their target price on SBA Communications from $275.00 to $260.00 and set a “buy” rating for the company in a research report on Tuesday, January 20th. Royal Bank Of Canada increased their target price on SBA Communications from $215.00 to $220.00 and gave the company an “outperform” rating in a research note on Monday, March 2nd. Finally, Barclays dropped their target price on SBA Communications from $219.00 to $212.00 and set an “overweight” rating on the stock in a report on Monday, December 1st. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $232.17.

About SBA Communications

SBA Communications Corporation (NASDAQ: SBAC) is a real estate investment trust that owns, operates and develops wireless communications infrastructure. Its core business is the leasing of space on communications towers, rooftop sites and other wireless structures to mobile network operators, broadband providers and other wireless service customers. The company also provides site development, construction and ongoing site management services to support the deployment and operation of wireless networks.

In addition to traditional macro towers, SBA offers a range of infrastructure solutions designed for dense urban and suburban markets, including small cells, distributed antenna systems (DAS) and fiber backhaul and transport services.